RIL, at its 40th annual general meeting on Friday, announced the launch of JioPhone, which will be available for beta testing from 15 August. "The JioPhone will be available to all Indians for an effective price of Rs Zero," Ambani said in his address.

The benchmark indices -- the NSE Nifty and the BSE Sensex -- too, fell as investors booked profits. The Nifty fell by 21.20 points, or 0.21 per cent to 9,852.10 points, while the Sensex traded at 31,854.78 points -- down 49.62 points or 0.16 per cent.